Rogers Communications Inc. (TSE:RCI.B) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Rogers Communications Inc. (TSE:RCI.B) (NYSE:RCI) have been given a consensus rating of “Moderate Buy” by the nine research firms that are presently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is C$57.73.

Several equities analysts have commented on RCI.B shares. Desjardins dropped their target price on Rogers Communications from C$57.00 to C$55.00 and set a “hold” rating for the company in a research report on Monday, January 12th. Canaccord Genuity Group boosted their price target on Rogers Communications from C$55.00 to C$57.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Scotiabank dropped their price objective on shares of Rogers Communications from C$58.00 to C$57.75 and set a “sector perform” rating for the company in a report on Tuesday, January 20th. Canadian Imperial Bank of Commerce lifted their target price on shares of Rogers Communications from C$58.00 to C$60.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 9th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Rogers Communications from C$59.00 to C$62.00 and gave the stock an “overweight” rating in a report on Tuesday, October 28th.

Rogers Communications Trading Up 0.6%

TSE RCI.B opened at C$52.85 on Tuesday. The company has a quick ratio of 0.58, a current ratio of 0.65 and a debt-to-equity ratio of 436.50. Rogers Communications has a twelve month low of C$32.42 and a twelve month high of C$56.15. The company has a market cap of C$28.55 billion, a price-to-earnings ratio of 4.15, a price-to-earnings-growth ratio of 0.32 and a beta of 1.07. The business’s fifty day moving average is C$51.01 and its 200 day moving average is C$51.03.

About Rogers Communications

Rogers is the largest wireless service provider in Canada, with its more than 10 million subscribers equating to one third of the total Canadian market. Rogers’ wireless business accounted for 60% of the company’s total sales in 2021 and has increasingly provided a bigger portion of total company sales over the last several years. Rogers’ cable segment, which provides about one fourth of total sales, offers home internet, television, and landline phone service to consumers and businesses. Remaining sales come from Rogers’ media unit, which owns and operates various television and radio stations and the Toronto Blue Jays.